Portland, OR, Sept. 19, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe fresh food packaging market was pegged at $1.11 billion in 2019 and is projected to reach $4.87 billion by 2026, registering a CAGR of 3.1% from 2019 to 2026. The report offers a detailed analysis of the key segments including top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
MAP gain high traction for fresh food packaging and surge in demand for fresh fruits & vegetables to augment market expansion for fresh food packaging are the two major drivers for the growth of the Europe fresh food packaging market. Furthermore, new technologies provide impetus to the growing market. However, political instability might negatively affect the regional market and negative environment impact of food packaging impede the market growth. On the other hand, emergence of bioplastic for fresh food packaging and use of cellulose nanocrystals will provide major opportunities for the market growth in upcoming years.
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The Europe fresh food packaging market is divided on the basis of food type, product type, material, and country. Based on food type, the market is segmented into fruits, vegetables, and salad. The vegetable segment held the largest share in 2019, contributing to nearly half of the market. However, the salad segment is expected to register the fastest CAGR of 5.2% during the forecast period.
On the basis of product size, the market is bifurcated into flexible film, roll stock, bags, sacks, flexible paper, corrugated box, wooden boxes, tray, and clamshell. The clamshell segment held the lion’s share in 2019, accounting for more than one-fourth of the market share. Furthermore, this segment is projected to manifest the fastest CAGR of 4.1% during the forecast period.
The Europe fresh food packaging market is analyzed across various countries including Spain, UK, France, Italy, Russia, Germany, and rest of Europe. Rest of the Europe dominated the market, contributing to more than one-fourth of the market in 2019. Furthermore, this segment is estimated to register the fastest CAGR of 4.6% during the study period.
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The Europe fresh food packaging market report includes an in-depth analysis of the major market players such as Mondi Group, Sonoco Products Company, International Paper Company, Hayssen, Inc., Ball Corporation, Smurfit Kappa Group, and Visy. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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